Telecoms research company Berg Insight expects the number of mobile banking users to grow from 55 million people last year to reach 894 million users in 2015. That's a compound annual growth rate of 59.2%. Asia-Pacific is expected to account for more than half of the total user base, with 115 million users in Europe anticipated by 2015.
Marcus Persson from Berg Insight said "The global number of mobile banking users more than doubled between 2008 and 2009, and is expected to almost double again in 2010. Mobile handsets are in an excellent position to become the primary digital channel for providers of banking and related financial services on emerging markets."
The report also forecasts that between 3-15% of international money transfers currently handled by agencies will be carried out using a mobile handset by 2015.